【TOPGLOV 7113 交流专区】顶级手套

在泰国那边收购的橡胶园好像会在明年一月就会多敲定了。

高涨的成本应该是会转嫁给消费者，顶级已经是相当规模的手套厂了，在成本控制应该是会比较占优势，其现有的问题应该还是中国那边，那边如果能够成功转亏为盈，下一季度的业绩将会很出色。

Mr.Business

新闻。

Monday November 26, 2007

The future of gloves

Between the Lines:
By C.S. TAN

FOR a setting of share price direction when there are uncertainties in an industry, the rubber glove sector provides an insight.  

Top Glove Corp Bhd, for instance, has seen a 40% dropin its share price this year even though its latest quarterly results showed a 33% rise in pre-tax profit.  

Supermax Corp Bhd, a smaller glove manufacturer, announced on Wednesday the earnings in its latest quarter rose 27%. Its share price went up by all of 1 sen the next day.  

Similarly, Kossan Rubber Industries Bhd's share price has declined by RM1.00 from the start of the year, when its price was RM4.80, to RM3.80 on Friday.  

The glove companies produce ahumdrum product but their shares were anything but boring in previous years. They delivered high earnings growth and saw a steady rise in their share prices.  

The under-performance of the glove stocks is due to several factors, such as concerns over the price of liquefied petroleum gas (LPG) for which an increase is widely expected next year.  

Tenaga Nasional Bhd, the biggest user of LPG, pays RM6.40 per mmbtu (one million British thermal units), while other companies in the industrial sector pay about RM12.90 per mmbtu. The international price is about RM24.00.

It is of even greater concern to investors that Gas Malaysia Sdn Bhd, an associate company of Petronas, is believed to be reluctant to increase the supply of LPG to manufacturers, as it is not profitable to do so.

That wouldre strain glove makers from expanding their capacities, as most of them currently use LPG to heat their industrial processes.  

Industry players said, however, they had contracted for additional LPG supplies for their expansion into 2008 or even 2009. Supply should not,therefore, be a problem in the short term.  

As for higher LPG prices, if that is raised too much, the glove makers are prepared to switch to biomass or coal. That would ensure that LPG supply would not be a constraining factor in their expansion plans from 2009 or beyond.  

Investorsare also worried over a perception that earnings growth will be slower in future. Disproving that, the results of Supermax were quite good.  

While Top Glove's earnings growth was still quite strong, some fund managers were surprised it was achieved in spite of no increase in revenue,which stood at RM307.7mil in Q4/07 compared with RM307.6mil in the same quarter last year.  

It is understood there was no revenue increase in Q4/07 because latex prices were lower during that period compared with Q4/06. That accounted for the expansion of profit marginsin its Q4/07 period.  

While the downdraft of share prices is painful for shareholders, it has given other investors an opportunity to get into the glove stocks at inexpensive, current year price/earnings (PE) valuations of mid-teens for Top Glove and just under 10 times for Kossan and Supermax for companies growing at over 20% a year.  

Non-events  

It is not only Supermax that produced higher earnings without being rewarded with a higher share price.  

Many other companies in the small to mid-cap space delivered strong earnings growth while their share prices languished.  

Thiswas partly due to a macro view of uncertainties that the US could slip into a recession early next year, and if the Chinese stock markets would continue in their steep correction.  

Companies here that did well include Sino Hua-An International Bhd, a manufacturer of coke for the iron and steel sector in China. It reported a 46% rise in net profit in its latest quarter, and its share price remained unchanged at 79 sen at the end of the week, down 39% from RM1.30 at the start of the year. It's also unusual for a stock that is largely doing business in China to be trading at a PE of less than six times.  

http://biz.thestar.com.my/news/s ... 554655&sec=business

[ 本帖最后由 Mr.Business 于 26-11-2007 03:35 PM 编辑 ]

paulsiong2u

个人意见，其实原料起价对顶级的盈利冲击不会如想象中严重，顶级在转嫁成本方面做得不错的。再来，顶级在这行业是老大哥，如果无法顶的顺原料起价的冲击，其他手套股会更惨，因为顶级的量是最大的，成本当然拿得也最便宜。当然，做生意当然是贵来贵卖，如果顶级顶不顺原料成本暴涨而起价，盈利方面应该不会有很大影响。
其实现在的情况对顶级来说也是一个机会，其它比较小/实力不够的生产商可能会因此倒下，顶级的market share可以进一步的提高。

loong81

其实我也是顶级手套的粉丝。可是我被它烧到叻。。。。。。
粉丝都不给面子

半梦半醒之间

The Star: Monday November 26, 2007: The future of gloves

金钱至上, 利至所在, 人不为已, 天诛地灭, Topgloves 管理层也不例外。

私配优先股, (当然是管理层先知道嘛)。。

如果你也预先知道有便宜的优先股发配,你会如何处理,手上正处于高价票?

当然是把手上正处于高价的  topglove 套现, 套利. (林总也套现嘛)。

为啥 cari 的股票专家没有从这个角度看 topglove 呢 ??

.

Mr.Business

Mardec的latex产量是210K公吨，而Top Glove自己的latex产量好象是100K公吨。

Monday November 26, 2007 MYT 3:35:32 PM

Double the rubber to make Mardec world’s No 1

By SARBAN SINGH

SEREMBAN: The Malaysian Rubber Development Corporation (Mardec) expects to double its annual latex production to 400,000 metric tonnes by 2010, said its chairman Datuk Syed Abdul Jabbar Shahabudin.

With this, Mardec, which has operations in Indonesia, Thailand, India and Vietnam -- the world's top rubber producers -- would become the largest rubber processing conglomerate in the world.

Its expects to produce 210,000 metric tonnes of latex this year.

"This year alone, Mardec had increased its interest in several ventures based in these four countries. We are expanding our operations locally as well as abroad," Syed Abdul Jabbar said at Mardec's Quality Convention 2007 here on Monday.

He said Mardec had also entered into several joint ventures in these countries in its efforts to consolidate its position as the world's biggest rubber processing entity.

"We have among others, set up a joint venture company in Way Kanan in Riau Indonesia and gained full control of Mardec Saigon Rubber in Vietnam," he said.

However, he admitted that new methods would need to be devised to increase natural rubber consumption if Mardec was to achieve its objectives.

"We need to be more creative and find new ways to increase demand for the commodity. We can no longer rely on old techniques and strategies to increase rubber consumption," he said.

http://biz.thestar.com.my/news/s ... 153429&sec=business

Mr.Business

可能是之前公司要发出private placement，所以有人支持股价以便吸引投资者购买private placement。现在公司成功发出private placement了，可能是因为没人支持股价了，或是因为票数增加，卖压也提高了，所以股价就跌跌不休了。。。

paulsiong2u

原帖由 loong81 于 26-11-2007 12:01 PM 发表
其实我也是顶级手套的粉丝。可是我被它烧到叻。。。。。。
粉丝都不给面子

我也跟你一样被烧到，平均价RM7.55 没钱在买进average，现在当作长期投资了

Mr.Business

Top Glove又回购股票。。。

Company Name	:	TOP GLOVE CORPORATION BHD
Stock Name	:	TOPGLOV
Date Announced	:	26/11/2007

Date of buy back	:	26/11/2007
Description of shares purchased	:	Ordinary Shares of RM0.50
Total number of shares purchased (units)	:	38,700
Minimum price paid for each share purchased (RM)	:	5.950
Maximum price paid for each share purchased (RM)	:	6.100
Total consideration paid (RM)	:	233,420.00
Number of shares purchased retained in treasury (units)	:	38,700
Number of shares purchased which are proposed to be cancelled (units)	:	0
Cumulative net outstanding treasury shares as at to-date (units)	:	2,955,600
Adjusted issued capital after cancellation (no. of shares) (units)	:	0

Mr.Business

Top Glove很快就要发出新的ESOS。发出ESOS之前，大部分Top Glove的员工都应该会希望Top Glove的股价越低越好，ESOS的价钱才会订的低。ESOS发出之后，Top Glove的员工应该会希望Top Glove的股价越高越好，好让他们赚大钱。。。

Submitting Merchant Bank	:	RHB INVESTMENT BANK BERHAD
Company Name	:	TOP GLOVE CORPORATION BHD
Stock Name	:	TOPGLOV
Date Announced	:	19/10/2007

Type	:	Announcement
Subject	:	TOP GLOVE CORPORATION BERHAD (“TOP GLOVE” OR THE “COMPANY”) Proposed establishment of a new employees’ share option scheme (“ESOS”) for eligible employees and Directors of Top Glove and its subsidiaries(“Proposed New ESOS”)

Contents :

1.        INTRODUCTION

On behalf of the Board of Directors of Top Glove (“Board”), RHB Investment Bank Berhad is pleased to announce that the Company proposesto establish a new ESOS for the granting of option(s) (“ESOSOption(s)”) to the eligible employees and Directors of Top Glove and its subsidiaries (“Top Glove Group” or “Group”) excluding dormant subsidiaries, who fulfil the eligibility criteria (“Eligible Persons”).


2.        DETAILS OF THE PROPOSED NEW ESOS

The Company had on 29 April 2003 established its existing ESOS (“Existing ESOS”) with a duration of 5 years, which will expire on 29 April 2008. Upon the expiry of the Existing ESOS, Top Glove proposes to establish a new ESOS for the Eligible Persons.

The salient terms of the Proposed New ESOS, which will be governed by the By-Laws that shall, inter-alia, stipulate the following:

2.1        Maximum number of Top Glove shares

The maximum number ofnew ordinary shares of RM0.50 each in Top Glove (“Shares” or “Top Glove Shares”) to be granted under the Proposed New ESOS shall not exceed 15%of the total issued and paid-up share capital of the Company at an ypoint in time during the duration of the Proposed New ESOS. As at 2 October 2007, the issued and paid-up share capital of the Company stoodat RM150,239,916 comprising 300,479,831 new Top Glove Shares.

......

Link

[ 本帖最后由 Mr.Business 于 26-11-2007 07:51 PM 编辑 ]

江百虎

現在就買還早呢！倒不如等到它的價格接近年線了再買。。。

Mr.Business

年線等于股价多少？？？

江百虎

原帖由 Mr.Business 于 26-11-2007 08:23 PM 发表
年線等于股价多少？？？

根據圖表，現在的價格比年線還低  17.17%，比季線低  4.86%。。。

這個圖表只適合放長線，不適合炒短線的。。。

不過短線也沒有甚麼好炒的，起個幾天又跌多幾天，倒不如耐心的等到價格站上年線再買來得穩當的多。。。

[ 本帖最后由 江百虎 于 26-11-2007 08:45 PM 编辑 ]

弹煮

MACD停止lao sai，接下来的走势，预料将横摆在6块左右，阻力放在布林中带。

Final Dividend of 6% less 26% Malaysian Income Tax and 6% Tax Exempt
EX-date                :13/02/2008
Payment date         :14/03/2008

hancom

反弹无力，热浪已退。

ILB (5614), 另一只跌跌不休 , 发配 Private placement 烂股。







http://www.tradesignum.com/Publi ... 59YgCFQsrTAodzX_yvQ



P/S  大户 ( 庄) 赚快钱的新招。

[ 本帖最后由 梦7 于 27-11-2007 01:39 PM 编辑 ]

nic_liew

原帖由 Kwang 于 27/11/07 01:44 发表
Final Dividend of 6% less 26% Malaysian Income Tax and 6% Tax Exempt
EX-date                :13/02/2008
Payment date         :14/03/2008

如果有1000SHARES可以得到多少?

12% OF WHAT PRICE?